Reliance Industries shares hit 52-week high after Abu Dhabi's Mubadala deal

News Network
June 5, 2020

New Delhi, Jun 5: Shares of Reliance Industries on Friday gained over 2 per cent to hit their one-year high level after the company announced sale of 1.85 per cent stake in its digital unit, Jio Platforms, to Abu Dhabi-based sovereign investor Mubadala.

On BSE, the heavyweight stock jumped 2.38 per cent to Rs 1,617.70 -- its 52-week high.

It surged 2.41 per cent to its one-year high of Rs 1,618 on NSE.

Earlier in the day, Reliance Industries announced the sale of 1.85 per cent stake in its digital unit to Mubadala for Rs 9,093.60 crore, the sixth deal in as many weeks that will inject a combined Rs 87,655.35 crore in the oil-to-telecom conglomerate to help it pare debt.

"Mubadala Investment Company (Mubadala) will invest Rs 9,093.60 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore," the company said in a statement.

With this investment, Jio Platforms has raised Rs 87,655.35 crore from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries Ltd, is a next-generation technology company.

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News Network
June 22,2020

New Delhi, Jun 22: With an increase of 14,821 new cases and 445 deaths, India's COVID-19 count reached 4,25,282 on Monday.

According to the latest update by the Union Ministry of Health and Family Welfare (MoHFW), 13,699 deaths have been recorded due to the infection so far in the country.

The rise in confirmed cases today is lower than the highest spike of 15 thousand plus cases registered on Sunday.

The count includes 1,74,387 active cases, and 2,37,196 cured/discharged/migrated patients.

Maharashtra with 1,32,075 confirmed cases remains the worst-affected by the infection so far in the country. The state's count includes 60,161 active, 65,744 cured, discharged patients while 6,170 deaths have been reported due to the infection so far.

Meanwhile, the national capital today became the second-worst affected region in the country with the number of confirmed cases in Delhi reaching 59,746 as opposed to Tamil Nadu's 59,377 cases.

While 2,175 deaths have been reported in Delhi due to the infection so far, the toll in Tamil Nadu stands at 757.

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Agencies
June 8,2020

Lucknow, Jun 8: The coronavirus which has now been assigned a gender, is being worshipped in Uttar Pradesh also after Bihar as superstition run deep. Women in some villages in Tumkuhiraj, Kasia, Hata, Captanganj and Khadda tehsil in Kushinagar district have started worshipping 'Corona Mai' and are pleading with her to spare lives.

These women have dug a small pit in the field, filled it with water and each one offers nine cloves and nine 'laddoos' to 'Corona Mai' to appease her.

Women from adjoining villages are now flocking to the 'temple' to pray to 'Corona Mai'.

Some local people have appealed to the district administration to stop such activities which spread superstition and misinformation.

Radhey Lal, a school teacher in Kasia, said, "The authorities must stop such activities which promote superstition. Everyone knows that there is no cure for corona and this kind of activities must be stopped."

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Agencies
June 26,2020

New Delhi, Jun 26: The Road Transport and Highways Ministry has issued a notification to enable citizens with mild to medium colour blindness to obtain a driving licence.

An official release said that the Ministry has been taking measures to enable divyangjan citizens to avail transport-related services, especially driving licence.

It said the ministry received representations that the colour blind citizens are not able to get a driving licence due to requirements in the declaration about physical fitness (Form I) or the medical certificate (Form IA).

The release said that the issue was taken up with expert medical institution and advice sought.

The recommendations received were that mild to medium colour blind citizens be allowed to drive and restrictions should only be on the severe colour blind citizens.

"This is also allowed in other parts of the world," the release said.

The notification seeks to amend Form 1 and Form 1A pertaining to Central Motor Vehicles Rules 1989.

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